Airbnb has been one of the most successful companies since its inception in 2008. According to Airbnb Newsrooms, currently Airbnb has more than 7 million listings in more than 191 countries and regions and operating in more than 100,000 cities. As one of the most popular cities in the world, New York City has been one of the hottest markets for Airbnb. With close to 50,000 listings in the city, Airbnb has interwoven with the rental landscape within 10 years of its inception. Analyses on such a dataset would not only provide intuition about the rental metrics but also shed some light on the socio-economic setting of the city.
The aim of the project is to perform analyses on New York City Airbnb dataset and uncover insights about the sharing economy in one of the biggest cities of the world. The tasks involve developing business intelligence for both hosts who are listing their apartments and the guests who are using them to meet their accommodation requirements.
Following are the questions the project tries to answer which are split into three broad sections:
The second-hand dataset is taken from Inside Airbnb which provides non-commercial set of tools and data that allows us to explore how Airbnb is really being used in cities around the world. The New York Airbnb dataset is compiled on 6 May 2020. There are three data sets that we used for our analysis, namely –
listings.csv – file contains 106 variables and 50,246 listing information. Details about the listings such as price, apartment details, ratings of the apartment, number of rooms, neighbourhood and host information are included in this file.calendar.csv – file includes the daily rates of the listings up till a year. The data in the file was used to project the prices during the holiday season.reviews.csv – file includes the reviews of each listing posted by guests. This file was primarily used for text analytics.New York City being the most densely populous city in US, has over 50,000 Airbnb listings as of May 2020. Bar plot shows that new listings in NYC increased steadily from 2008 to 2015. Post 2015 new listings started to go down and averaged around 4000 up till last year.
Geo plot shows the landscape of Airbnb listings over the years. A quick glance at the geo plot reveals that Manhattan and North Brooklyn around the East river are the most populated areas by Airbnb listings.